COVID-19 Reporting information


Auditor communication

Tools for auditors in the auditor’s report to enhance communication with users.

Key topics: 

  • Reporting Key Audit Matters
  • Use of Emphasis of matter paragraphs. 

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Tier 1 and Tier 2 FAQs – Going concern disclosures

An overview of the responsibilities of those charged with governance for the adequacy of going concern related disclosures in an entity’s financial statements.

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Tier 3 FAQs – Ability to Continue Operating

Assessing and reporting on your entity’s ability to continue operating

These FAQs are designed to help the governing bodies understand their responsibilities to assess and report on their entity’s ability to continue operating. 

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Tier 1 and Tier 2 FAQs – Going concern disclosures

An overview of Directors’ responsibilities for the adequacy of going-concern related disclosures provided in a company’s financial statements.

Also includes requirements for accounting standards and auditor expectations.

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Auditor reports

An explanation of the communication tools auditors use in auditor reports and the likely impact of COVID-19 on auditor reporting, including

  • More modified auditor opinions;
  • More disclosures in Auditor Reports; And
  • The impact of going concern matters on the auditor’s thought process and auditor’s report

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